Ganley firm applies to be struck off

The Declan Ganley-backed Switzerland-based asset management firm, St Columbanus International Advisors Ltd, has applied for voluntary strike off from the Companies Registration Office after three years of trading.

According to its most recent accounts filed to the end of 2012, the company recorded no turnover during that period and had only a nominal amount of assets and liabilities at the time of strike off.

Mr Ganley launched St Columbanus in 2011 with a number of different entities operating under the brand.

According to its website, St Columbanus International Advisors Ltd, “was established to serve the US residents’ investment needs in Switzerland as well as those of US nationals currently residing in Switzerland. While both publics have US-based alternatives for investment management, the reverse, investing from Switzerland for clients in these circumstances has recently been less straightforward.”

The firm had two directors, Mr Ganley and London-based Andrew Jamieson. It was launched in May 2011 in controversial circumstances. Initially it was believed that Mr Ganley would target Irish investors and help them move assets to Triple A rated banks throughout Europe.

This led to accusations of a conflict of interest, particularly in the run-up to the Fiscal Stability Treaty when Mr Ganley was one of the high-profile campaigners for a no vote.

However, the Galway- based entrepreneur said that St Columbanus had not advertised its services in Ireland and was not focused on the Irish market.

Mr Ganley is the founder of the telecoms firm Rivada Networks and the think tank, Libertas. He was part of a consortium that lost out in the State’s second mobile phone licence, which was won by a Denis O’Brien-controlled company, Esat Digifone.

Even though Mr Ganley’s consortium came last in the bidding process, he is suing the Government following the publication of the Moriarty Tribunal, which found that the former Minister for Communications, Michael Lowry had helped deliver the licence for Denis O’Brien.

Mr O’Brien rejects the findings of the tribunal and successfully applied to join the State in the case taken by Mr Ganley.